Insider Selling: David King Sells 25,000 Shares of Laboratory Corp. of America Holdings Stock (LH)
Laboratory Corp. of America Holdings (NYSE:LH) CEO David King sold 25,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $100.91, for a total transaction of $2,522,750.00. Following the completion of the sale, the chief executive officer now directly owns 63,628 shares of the company’s stock, valued at approximately $6,420,701. The transaction was disclosed in a filing with the SEC, which is available at this link.
Laboratory Corp. of America Holdings (NYSE:LH) traded down 0.06% on Monday, hitting $100.16. The stock had a trading volume of 311,592 shares. Laboratory Corp. of America Holdings has a 52 week low of $82.15 and a 52 week high of $101.69. The stock’s 50-day moving average is $97.55 and its 200-day moving average is $95.79. The company has a market cap of $9.105 billion and a P/E ratio of 16.52.
Laboratory Corp. of America Holdings (NYSE:LH) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.80 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.80. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts expect that Laboratory Corp. of America Holdings will post $7.03 EPS for the current fiscal year.
A number of research firms have recently commented on LH. Analysts at Zacks reiterated a “neutral” rating on shares of Laboratory Corp. of America Holdings in a research note to investors on Monday. They now have a $105.00 price target on the stock. Separately, analysts at Piper Jaffray Cos. raised their price target on shares of Laboratory Corp. of America Holdings from $98.00 to $103.00 in a research note to investors on Monday, October 21st. They now have a “neutral” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of Laboratory Corp. of America Holdings from $91.00 to $98.00 in a research note to investors on Wednesday, October 2nd. They now have a “buy” rating on the stock. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $101.16.
Laboratory Corporation of America Holdings is a clinical laboratory company in the United States. Through a national network of laboratories, the Company offers a range of testing services used by the medical profession in routine testing, patient diagnosis, and in the monitoring and treatment of disease.
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